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Author: Phoolish1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76241  
Subject: The Wisdom of Social Security Date: 6/5/1998 3:41 PM
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Today, in my local newspaper, there's an article about the unprecedented bipartisan agreement on the need to reform/shore up Social Security. At a national summit on retirement savings, Clinton noted ("decried", according to the article) that, overall, Americans are still spenders and not savers and called on the nation's political leaders to act on Social Security now, in the cradle of a strong economy.

It boggles my mind that our leaders continue to push the notion that individuals need to depend on a government more than 5 trillion dollar debt to save for them. That the general public seems to accept this is simply unbelievable.

I hope it's just politics. I hope they're just trying to court votes. I hope that behind closed doors cooler heads are noticing that despite gut wrenching drops, the stock market is the best investment vehicle we've got. I hope that in smokey back rooms, deals are being cut to phase out Social Security and expand the Roth IRA and add individual investment education programs. I hope Hillary is thinking about writing a sequel to "It Takes a Village" called "Teach a Man to Fish".

I fear that none of this is true.

Meager reassurance comes my way from the 20 and 30-somethings I see on the news who say "Depend on Social Security for my retirement?? You must be mad." These comments allow me to indulge a little and dream about the day a Social Security employee looks at a printout and says "Hey! Something must be wrong with the computer. It says that no one applied for benefits this week."

In this newspaper article, Al Gore is quoted as saying, "We must make sure that as America grows grayer, it also grows wiser about the future."

Al, I'm here to tell you, you're on the right track.
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